AI 4 Crowdfunding -  A hands-on roadmap to study and understand crowdfunding data using critical thinking AI

19 Pages Posted: 2 Oct 2024

See all articles by Stefana Belbe

Stefana Belbe

Babes-Bolyai University

Lucia Gomez Teijeiro

Bern University of Applied Sciences (BFH); University of Geneva

Liana Stanca

Babes-Bolyai University

Karsten Wenzlaff

University of Hamburg - Faculty of Business, Economics, and Social Sciences; University of Cambridge - Cambridge Centre for Alternative Finance; European Centre for Alternative Finance

Codruta Mare

Babes-Bolyai University - Faculty of Economics and Business Administration

Ramy Elitzur

University of Toronto - Rotman School of Management

Karolina Bolesta

Warsaw School of Economics (SGH) - Department of Economics I

Xiaohong Huang

University of Twente - Department of Finance & Accounting

Gokce Nur Yilmaz

TED University

Frederik Sinan Bernard

University of Twente

Joerg Osterrieder

University of Twente; Bern Business School

Ioana Florina Coita

Universitatea din Oradea; University of Economics in Bratislava; "Sofia University "St. Kliment Ohridski

Olivija Filipovska

Geostrategic Institute Global

Hanna Kristin Skaftadottir

University of Iceland; Bifrost University

Claire van Teunenbroek

University of Twente

Galena Pisoni

York St John University

Sebastian Spaeth

University of Hamburg

Date Written: August 30, 2024

Abstract

Crowdfunding has emerged as a critical financial solution that democratizes capital access, driving innovation and economic development. The integration of Artificial Intelligence (AI) into crowdfunding management offers numerous strategic benefits, such as predicting success rates or detecting fraud. Previous research efforts have showcased the potential of leveraging AI for deriving data-driven insights into crowdfunding, especially with regards to reward-based crowdfunding on platforms such as Kickstarter. Efforts for understanding the dynamics of crowdfunding campaigns have focussed on how these are designed, what determines campaign support or what determines their success). These questions are increasingly answered using Machine Learning (ML) methods. While such works constitute an invaluable knowledge base and demonstrate that AI is instrumental for illuminating crowdfunding non-linear dynamics, their academic nature, often non-replicable, impedes their translation into actionable tool sets for the practice of crowdfunding optimization and, at the same time, makes it difficult for academics to reproduce the results obtained in the papers. The goal of our research is to share a hands-on roadmap to study and understand crowdfunding data using AI. More importantly, we do this by discussing the reasoning processes utilized by experienced data scientists, who have developed critical thinking for AI. We here state that quality education in AI for crowdfunding is the basis for a sustainable implementation of the next generation of data-driven crowdfunding professionals, and this piece contributes to bridging the current knowledge gap. From data collection through preprocessing, exploratory data analysis (EDA), and visualization, to the generation of data-driven insights using AI modeling, we here cover AI for crowdfunding as a holistic skillset. We provide careful reasoning on the data scientist's careful AI mindset, emphasizing the value of critical thinking and providing access to hands-on-doing learning materials vital for informing nextgeneration crowdfunding professionals.


Technical Note: The code and auxiliary information can be found in our GitHub-Repository:

https://github.com/cost19130/fraud_prevention_crowdfunding_p2p_ico

Please find all the information on how to make use of the code in the README file in the above repository.

Keywords: Crowdfunding, Careful AI, Mindful AI, Machine Learning, Artificial Intelligence, Teaching

JEL Classification: A29, C10, F30, O30, Y2

Suggested Citation

Belbe, Stefana and Gomez Teijeiro, Lucia and Stanca, Liana and Wenzlaff, Karsten and Mare, Codruta and Elitzur, Ramy and Bolesta, Karolina and Huang, Xiaohong and Nur Yilmaz, Gokce and Bernard, Frédérik Sinan and Osterrieder, Joerg and Coita, Ioana Florina and Filipovska, Olivija and Skaftadottir, Hanna Kristin and van Teunenbroek, Claire and Pisoni, Galena and Spaeth, Sebastian, AI 4 Crowdfunding -  A hands-on roadmap to study and understand crowdfunding data using critical thinking AI (August 30, 2024). Available at SSRN: https://ssrn.com/abstract=4941279 or http://dx.doi.org/10.2139/ssrn.4941279

Stefana Belbe (Contact Author)

Babes-Bolyai University ( email )

Lucia Gomez Teijeiro

Bern University of Applied Sciences (BFH) ( email )

Brückenstrasse 73
CP 3005
Bern, BE 3005
Switzerland

University of Geneva ( email )

102 Bd Carl-Vogt
Genève, CH - 1205
Switzerland

Liana Stanca

Babes-Bolyai University

Karsten Wenzlaff

University of Hamburg - Faculty of Business, Economics, and Social Sciences ( email )

Von-Melle-Park 9
Hamburg, 20146
Germany

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

European Centre for Alternative Finance ( email )

Vredenburg 138
Utrecht, 3511 BG
Netherlands

Codruta Mare

Babes-Bolyai University - Faculty of Economics and Business Administration ( email )

58-60, Teodor Mihali str
Cluj-Napoca, Cluj 400591
Romania
0745324563 (Phone)

Ramy Elitzur

University of Toronto - Rotman School of Management ( email )

105 St. George Street
Toronto, Ontario M5S 3E6 M5S1S4
Canada

Karolina Bolesta

Warsaw School of Economics (SGH) - Department of Economics I ( email )

Warsaw
Poland

Xiaohong Huang

University of Twente - Department of Finance & Accounting ( email )

P.O.Box 217
7500 AE Enschede
Netherlands

Gokce Nur Yilmaz

TED University ( email )

Frédérik Sinan Bernard

University of Twente ( email )

Drienerlolaan 5
Departement of High-Tech Business
Twente, Enschede 7522NB
Netherlands
0534895927 (Phone)

HOME PAGE: http://people.utwente.nl/f.s.bernard

Joerg Osterrieder

University of Twente ( email )

Drienerlolaan 5
Departement of High-Tech Business and Entrepreneur
Enschede, 7522 NB
Netherlands

Bern Business School ( email )

Brückengasse
Institute of Applied Data Sciences and Finance
Bern, BE 3005
Switzerland

Ioana Florina Coita

Universitatea din Oradea ( email )

Str. Universităţii nr. 1
Oradea
Romania
+40744369226 (Phone)

HOME PAGE: http://https://steconomice.uoradea.ro/

University of Economics in Bratislava ( email )

Dolnozemská cesta 1
Bratislava, 852 35
Slovakia
+40744369226 (Phone)

HOME PAGE: http://www.euba.sk

"Sofia University "St. Kliment Ohridski ( email )

1 Koziak, str
Sofia, 1407
Bulgaria
+40744369226 (Phone)

HOME PAGE: http://https://www.uni-sofia.bg/eng

Olivija Filipovska

Geostrategic Institute Global ( email )

Skopje
Skopje, 1000
Macedonia

Hanna Kristin Skaftadottir

University of Iceland ( email )

Iceland
6632850 (Phone)

Bifrost University ( email )

Bifrost
Iceland

Claire Van Teunenbroek

University of Twente ( email )

Galena Pisoni

York St John University ( email )

Lord Mayor's Walk York
York, YO31 7EX
United Kingdom

Sebastian Spaeth

University of Hamburg ( email )

Von-Melle-Park 9
Hamburg, 20146
Germany

HOME PAGE: http://digital-markets.info

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